Melbourne Uni lists $8 million Parkville mansion for sale
The University of Melbourne is selling a four-bedroom Parkville mansion once used by a previous vice chancellor, after the Group of Eight institution recorded $273 million in revenue growth in 2024.
The double-storey home opposite Royal Park was listed with a price guide of $7.9 million to $8.69 million this month. The university bought the property for $7.1 million in 2017.
Chief operating officer Katerina Kapobassis confirmed the university was in the process of divesting part of its portfolio but did not give a reason.
The home, which includes nine fireplaces, a turreted viewing tower and a wine cellar, was reportedly designed by famed architect Charles Webb, who designed Wesley College, The Alfred hospital and South Melbourne Town Hall.
Profits from the Parkville sale will contribute to the university's enviable financial position, which includes $12 billion in total assets, financial documents tabled in Victorian parliament on Tuesday revealed.
The university reported a surplus that was $117 million higher than the previous year, driven by 7.4 per cent growth in student numbers, including 11.7 per cent growth in overseas students, and additional research grants.
It also received $58 million from the sale of a campus in Hawthorn, which was listed in the 2024 annual report as a donation.
While reporting a healthy operating income of $3.1 billion, an increase of 9.4 per cent compared with 2023, the university recorded an operating deficit of $99 million for the 2024 calendar year.
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